Retail ATM Enquiry On The Increase (thanks to the Big 4!)
Written on the 16 September 2020
By ATM2GO Director Jenny Marsh
There has been a noticeable decline in bank ATMs in the market in the last two years, especially in regional areas. In the recent June Quarter alone there were 2150 ATMs removed.
We installed into Yandina yesterday a through the wall ATM into a site that until April this year had a CBA ATM. The branch had left some time before, but the removal of one of the few ATMs left in town greatly affected the local businesses that rely on both locals and tourists to access cash to spend in the area.
The CBA ATM was a "free" ATM, but let's face it, there's a reason that the CBA is removing their ATMS, "free" transactions don't cover the cost in maintain their network and rather than cop disgruntled customers by adding a fee, their easy solution is to remove them.
Our franchisee Jodie, in Rockhampton, has also provided the convenience of cash to a regional area by adding two new sites to a remote town that has no other ATMs. The last bank machine was pulled out about six months ago leaving the locals no way to access cash. The local convenience store and pub now both have an ATM to service locals in this regional area.
In addition to ATMs being removed, the other factor working in our favour to increase enquiry is EFTPOS charges. EFTPOS charges that would normally be overlooked before Covid are now being scrutinised to the shock of many merchants. Merchants have discovered that by taking card only, which many did at the beginning of Covid, that the bottom line has taken a big hit.
Our franchisees in Sydney, Lynne and Dave, have recently added over eight new fixed sites to their fleet. All of the small businesses they are servicing have realised the cost involved in providing tap and go convenience, and have made the decision to swap out small tap and go payments (under $20 purchases) for cash only.
Whilst cash transactions have certainly dropped from their hey day, they are far from being dead. Ask anyone who has ever had an EFTPOS terminal shut down and bring their business to a grinding halt if having all their eggs in one basket (payment wise) works for them, good chance they'll agree that providing a variety of payment options is a much safer bet.
So a big thanks to the banks that are removing the ATMs and providing opportunities for us. As a local small business we are delighted to provide this service to other small business owners who are giving it go during these tough times.
Let's hope things continue to improve for all Australian businesses. Remember to support local where you can, make a conscious decision regarding where you are spending your money and who you are supporting. There are thousands of businesses relying on your support!